BBC MONITORING INTERNATIONAL REPORTS: SOMALIA: PRESIDENT EGAL ALLOWS FOREIGN FIRM TO RUN OIL STORAGE FACILITIES
90% match; BBC Monitoring Service - United Kingdom ; 30-Jan-2000 12:00:00 am ; 177 words

President [Muhammad Ibrahim] Egal last week gave the necessary green light for Total Red Sea to begin taking over the management of Berbera port's oil storage facilities

According to a letter to this effect by Somaliland President Egal, Total Red Sea will take over all fuel storage depots at Berbera port. Apart from the management, Total Red Sea will also be allowed to import oil and store it in the depots. National oil firms that used to meet the country's oil importation needs will now be required to rent the depots from Total at prices higher than the currently applicable rates.

Total Red Sea had actually reached an agreement with the government on this deal right after the firm was launched two years ago by a group of foreign and local businessmen believed to be well-connected to President Egal. However, a dispute arose between the government and Total Red Sea on the one hand and the local oil companies on the other.

Local companies still insist that the deal was intended to grant an necessary oil business monopoly to Total Red Sea...

Source: `The Republican', Hargeisa, in English 30 Jan 00 p 1